SWAMIH Fund to exit from Rs. 36cr investment in Paranjape Blueridge(T24/25)
Project Overview
Paranjape Blueridge(T24/25) is a mid-income residential project part of 100 acre plus township located at Pune developed by Paranjape Schemes Construction Ltd
Project has saleable area of ~3.5 lakh sq.ft. with 248 units in 2 buildings.
The Location
Project is located in the established IT hub of Hinjewadi, Pune.
Project History
Project was launched in 2018 and expected to complete by 2020.
However, delayed due to various reasons primarily being lack of funding from existing lender project got delayed
Overall, the project was delayed by about 2 years.
SWAMIH Investment
Project was launched in 2018 and expected to complete by 2020.
However, delayed due to various reasons primarily being lack of funding from existing lender project got delayed
Overall, the project was delayed by about 2 years.
SWAMIH Impact
Project completed within ~3 years of investment and 8 months before RERA completion date
Monitoring to ensure no diversion of funds u2013 all inflows are used for project completion
Contractor/vendors dues cleared. Salaries paid to the employees
~72 new units sold; ~107 Cr collected
248 homebuyers to finally get their homes
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